<span>Based on this information, we would conclude that mary is in the concrete operational stage of development. The concrete operational stage of development is the third stage of Piaget's theory of cognitive development. In this stage it shows how someone starts thinking as a child grows up and it relates to logical thoughts as they get older. </span>
The four core principles of economics that is most relevant for each aspects of that decision are:
- scarcity
- supply and demand
- costs and benefits
- incentives
<h3>What are the
core principles of economics?</h3>
Scarcity can be regarded as the economic concept which serves as the basic fact of life that there exists only a finite amount of human and nonhuman resources .
Supply and demand serves as the economic model of price determination that is bee used in the market and it seen in a competitive market, the unit price for a particular good, .
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Communicating is a very complicated task that takes a lot of patience. You must have the ability to hear and listen to each opinion or idea while taking into account their perspectives and where they are coming from. In this sense, you must also apply your own opinions and ideas while continuing to respect others. Although, listening and speaking to one another is but one of the levels that go into the success of holding dynamic communications. As humans, we tend to notice the smallest details of one person such as facial expressions, tone of voice,
body movements, etc. and we analyze all of these details in order to decide who they are, what they are feeling, what type of personality they have, and how we will react to this person. Because it always important to be aware of what impression you are giving off towards people as well as being understanding of their point of view in order to have dynamic communication.
The marginal product of labor is 10.
Data and Calculations:
Production function = Q = 20K0.5L0.5 = 20 x K x 0.5 x L x 0.5
Where:
Q = number of surgeries per day
K = number of machines
L = number of employees
Assuming that:
K = 2
L = 2
Therefore, Q1 = 20 x 2 x 0.5 x 2 x 0.5
= 20 surgeries per day
Q2 = 20 x 2 x 0.5 x 3 x 0.5
= 30 surgeries per day
Change in productivity = 10 (30 - 20)
Change in labor = 1 (3 - 2)
Marginal product of labor = change in output / change in labor
= 10 (10/1)
Thus, the marginal product of labor for the production function is 10.
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Answer: Option (B) is correct.
Explanation:
Correct option: Decreasing marginal product.
Marginal product is the change in the level of output, when there will be an extra input employed in the production of a certain commodity.
So, Marginal Product = 
Where,
Q = Output
I = Input
Marginal product of 1st bag = 500
Marginal product of 2nd bag =
= 300
Marginal product of 3rd bag =
= 100
∴ From the above calculations, we can seen that as we employed one more bag of seeds as a result marginal product goes on diminishing.
Hence, Joan's production function exhibits decreasing marginal product.